The Benefits Of Fixed Asset Register Software

The Benefits Of Fixed Asset Register Software

The Benefits Of Fixed Asset Register Software

Fixed asset register software gives you a clear record of what your business owns and how your assets are behaving. With a robust, easy to use and transparent fixed asset register, you reduce the chance of a wide range of issues, too.

Overall, great fixed asset register software saves your business time and money by:

  • Improving asset-level operations
  • Speeding up asset discovery
  • Reducing the chance of ghost and zombie assets
  • Reducing lost assets and duplicate assets
  • Assisting in business decisions
3 Reasons Why There's Never Been A Better Time To Buy Fixed Asset Management Software


What To Add To Your Fixed Asset Register

Your fixed assets are permanent fixtures in your business. They aren’t stock or consumables and aren’t bought and sold. For this reason, asset tracking software is slightly different to inventory management software.

Your inventory will need to be tracked in bulk and granular data isn’t needed, where you need to know specifics, such as location, with your fixed assets.

So, your fixed assets will be assets such as laptops, phones, furniture, equipment and tools to name a few examples. To create an accurate view of your asset register, these will all need to be added to your fixed asset register software as unique, digital profiles.

This way, you’ll be able to add and pinpoint asset-specific data, such as maintenance data and bookings information. A spreadsheet isn’t the best way to do this, either, as the data you need will be in one cell of many, where fixed asset register software gives you a cleaner view through the use of asset profiles.


Using Fixed Asset Tags

Fixed asset tags can then be used to speed up your operations. These tags will create the ability to perform bulk actions on your assets and totally minimise asset discovery time.

Fixed asset tags are physical tags that you stick onto your assets. They contain a unique code that you can link to your assets by scanning their tags.

Once your assets have been tagged, when you need to update asset data, you simply need to scan an asset’s tag and use the helpful features within your asset tracking app.

Every time you scan an asset, the last seen location, the user who scanned the tag and the time of the scan also gets logged, meaning you get a full audit trail and can pinpoint where and when issues were reported.


How Does Fixed Asset Register Software Save You Time And Money?

The core use of a fixed asset register is to log what you own and to monitor how these assets are behaving. This gives you a view of your assets’ depreciation as well as operating and purchase costs, meaning you’ll be able to create clearer predictions due to a more transparent view of your net and gross profits.

Being able to view what you own is critical, too. Ghost and zombie assets can cause fines, a lack of accountability, and a breakdown in your asset tracking efforts and so an up to date register mitigates this. Asset losses and duplicate purchases are also reduced in the process.

Fixed asset tags and fixed asset register software features also save you time, helping you deliver projects on time and under budget. Fixed asset tags open up bulk actions, such as full audits of which assets are in which locations and the ability to bulk book out assets to yourself or your colleagues.

All of your day to day asset tracking operations and edits are pulled into a reporting page automatically. You can use this to filter and report on specific data, such as maintenance information, or you can export this as a pdf or excel sheet to create a snapshot fixed asset register, ready for tax, insurance, and accounting purposes.


itemit’s Fixed Asset Management System

itemit’s fixed asset management system gives you all of this and more. itemit is used for fixed asset tracking, IT asset management, construction equipment tracking, and in many, many more wonderful ways.

itemit’s system is highly scalable and highly customisable, meaning you’ll be able to share the system with your colleagues and reduce the asset tracking load.

As all of your data gets pulled into your reports automatically, it’s very easy to keep up to date on your audits and asset information. Then, you can run streamlined, simple, and customisable reports on all of this data, finding everything you need to know in an instant.

To find out more about the benefits of fixed asset register software, you can contact our team at team@itemit.com. You can also fill in the form below to start your 14-day free trial to try out the system for yourself!

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How Honeyguide Are Using itemit For A Not-For-Profit Fixed Asset Register Solution

How Honeyguide Are Using itemit For A Not-For-Profit Fixed Asset Register Solution

How Honeyguide Are Using itemit For A Not-For-Profit Fixed Asset Register Solution

 

“itemit is easy to use and has the best, quick customer support.”

Samwel Shaba

Programs Manager

 

“itemit is easy to use and has the best, quick customer support.”

Samwel Shaba

Programs Manager

 

Honeyguide is a non-profit organisation dedicated to conservation efforts in Tanzania. They work across nearly 1.2 million acres of wilderness in Tanzania, and their aims include enterprise development, management & governance, communications, human-wildlife conflict prevention, and wildlife & habitat protection.

As their efforts span such a wide area, it is critical that they track their assets effectively. This is as the risk of losing assets is increased due to consistent movement, creating a need for effective asset management operations.This is where itemit comes in. itemit is a scalable and shareable asset tracking software that allows you to track multiple assets across the globe with ease. When tracking assets across a wide area, a robust, customisable tracking software is essential.

honeyguide conservation asset tracking

The Challenge

Honeyguide have a wide variety of assets over a spread out area. This increases the risk of lost assets, a loss of accountability, and a loss of clarity very heavily. The need for a robust asset register is critical.

The challenge is clear. With assets spanning any distance, gaps in accountability are much more likely. This leads to inaccuracies in accounting, loss of assets, and the purchasing of duplicates.

When assets are used to protect wildlife and for conservation efforts, lost assets can slow down the success of conservation. Also, with the need to purchase replacements quickly, costs can add up.

A loss of accountability, therefore, slows down the efforts of any company due to knock-on effects in terms of cost and time, but with such an important cause, this can create bigger risks to an ecosystem.


itemit’s Fixed Asset Register Solution

Honeyguide found itemit and purchased the fixed asset register software to increase their accountability over assets and reduce the risks related to gaps in asset tracking. itemit provides Honeyguide with the ability to log their assets and track them with their existing barcodes.

itemit is used worldwide, and companies are using the asset tracking system to track assets across the world. This means that it is fit for purpose when it comes to tracking and managing asset data over a wide area.

With years of development behind the system, it has grown into a capable system that makes tracking sparse assets simple and effective. 

Honeyguide also use itemit to run audits on their assets. These audits verify that assets that should be in a location are still there, meaning that fewer assets go missing or become unaccounted for.

Then, as the day to day tracking updates reporting data, it is simple to retrieve reports of asset movements and asset information, such as issues and maintenance. This gives Honeyguide a quick and easy way to better monitor and control their assets.


The Results

Honeyguide have expanded their use of itemit to include bookings and equipment check in, check out data. They can track their assets when they move between employees with ease, therefore, meaning they get a granular view of their assets’ movements.

Honeyguide are also using itemit to add information to their assets, such as item specifications and accessories. This has created a robust, accurate, and very easy to use asset register.

Overall, itemit allows Honeyguide to monitor their assets’ movements and information, whether the assets are moving between employees or across 100s of acres. The reporting and fixed asset management tools available give Honeyguide the visibility they need to ensure that assets are less likely to go missing.

Samwel Shaba, the Programs Manager at Honeyguide, says:

“itemit is easy to use in any platform and has the best, quick customer support any time we’ve had an issue.”

honeyguide conservation lookout team

How can itemit help you?

itemit is helping charities and not-for-profits across the globe, from Honeyguide to Tanzania to cancer research in Australia to autism support in the UK. We’re proud of our work with charities, and offer a 30% charity discount on our Pro packages.

itemit offers a powerful system that you can use to track and manage your assets, allowing you to log your assets, their data, and then track all the movements and changes your assets go through on a daily basis.

To find out more about how itemit can help you, you’ll be able to contact the team at team@itemit.com. You can also start a free trial by completing the form below.

Fixed Asset Register Solution

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How Does Fixed Asset Tracking Software Save Your Business Money?

How Does Fixed Asset Tracking Software Save Your Business Money?

How Does Fixed Asset Tracking Software Save Your Business Money?

 Fixed asset tracking software gives you more control over your critical tools and equipment. Without asset tracking software, you create risks due to gaps in accountability. Without this accountability, you’re prone to ghost and zombie assets on your fixed asset register, alongside more lost assets and less control over how assets behave.

In short, fixed asset tracking software helps your business in two main ways.

  1. It saves you time. This time can be used for better things and indirectly saves you money, as fixed asset tracking software allows you to perform the same day to day duties you already do, but faster and more accurately.
  2. It saves you money. A clear audit trail and precise asset information mean that you lose fewer assets, purchase fewer duplicate assets, and have more visibility and control over how your assets behave.
fixed asset tracking software


How Does Fixed Asset Tracking Software Work?

Fixed asset tracking software allows you to log unique asset profiles onto a digital system. Your fixed assets will be furniture, IT assets, tools and equipment. Each of these can be logged in a similar way.

For example, you will be able to log your laptops as unique profiles while also logging your tools, equipment, and furniture. Then, you can add specific data to these profiles to bring them to life.

If you’re implementing IT asset management operations, for example, you can use hardware asset management procedures on your asset profiles. So, when you log a laptop, you’ll be able to add its warranty dates, make, model, and OS.

Then, if you’re using fixed asset tracking software to track tools and equipment, you can add more maintenance information and location data.


What Features Can I Use?

The best thing about a good fixed asset tracking software is that you can tailor the features at your disposal to the assets themselves. In other words, different assets will need different types of maintenance, and so you can mix and match a reminders and issues system.

To track PAT tests, you’ll be able to add a repeating reminder against your hardware assets. When this is due, you’ll get an email indicating that maintenance needs to be performed against an asset. 

Then, you’ll also be able to use an equipment checkout system to indicate that the asset is checked out for maintenance and, therefore, unavailable to your colleagues.

These features can be used in different ways, too, as a checkout system can also be used to indicate that you’ve hired out some tools and to show who they’ve been hired out to.

Then, you can add in a variety of location tracking features and group your assets by collections, too. This will help you audit your assets and help you ensure that they’re consistently accounted for.

All of this data is pulled into a reports page, which you can edit, monitor, and export. These reports can act as a fixed asset register or an IT asset register, but you can also use them to track specific maintenance information and data, for example.


Using Fixed Asset Tags

The benefit of a great fixed asset tracking software is that it will also have an integrated app that you’ll be able to download off the app store or Google play.

This app allows you to edit asset data and information while you’re in the field and have the asset physically in front of you. In the past, you’d have to make notes and update your asset data later on, but now, any changes you make onsite are reflected across the board.

Asset tags speed up these operations. Asset tags are physical tags that you stick onto your assets. Then, when you scan them, the corresponding asset profile will open, ready for edits.

The last seen location, time of the scan, and the user who scanned the tag will also automatically update, meaning you get a neat, accurate audit trail of where your assets have been when issues occur, for example.

Then, you can use tags for bulk scanning features, such as to run audits. All you need to do is indicate that you’re scanning in a specific location, scan the tags, and the system will do the rest by telling you what is and isn’t in the room.


itemit’s Fixed Asset Tracking Software

itemit’s fixed asset tracking software is powerful and unique. itemit gives you the highest level of accountability possible as you can mix and match RFID asset tracking, QR code asset management, barcode tracking, and GPS asset management.

Every edit you make gets pulled into your reports automatically, meaning you’ll never miss a beat with your fixed asset register. Instead, you get all the data you need for insurance, location tracking, maintenance, and tax purposes, all in a single system.

You can export an up-to-date fixed asset register whenever you need it, making your life easier and saving your business time and money in the process.

itemit saves your business money by making your existing operations faster, simpler, better, and easier to perform, giving you as much accountability as possible with minimal manual interaction required.

To find out more about how itemit’s asset tracking software can save your business money, you can contact the friendly team at team@itemit.com. You can also fill in the form below to start your 14-day free trial.

Fixed Asset Tracking Software

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

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Saving Time And Money With Fixed Asset Tagging

Saving Time And Money With Fixed Asset Tagging

Saving Time And Money With Fixed Asset Tagging

Fixed asset tagging is a process that speeds up your asset audits, saves you time, and saves you money. It’s a simple operation of sticking physical tags, such as QR codes or barcodes, onto your assets to link them to editable digital profiles.

This revolutionary process allows you to monitor asset usage and movements from anywhere in the world. When your assets are updated on-site, you’ll be able to monitor these changes and control your assets from hundreds of miles away.

fixed RFID asset tracking planning


What Are Fixed Asset Tags?

Fixed asset tags are physical tags that you can stick onto your physical assets. So, for example, you’ll be able to stick a QR code onto your laptop if you’re tracking IT assets.

This laptop will then have an online profile on your fixed asset tracking software and you’ll be able to link the physical laptop with this profile by using the tag.

So, after this, every time you scan the tag in your asset tracking app, the corresponding laptop’s profile will open, ready for you to edit any information or make use of helpful features.

In practice, what this means is that if you’re running an audit and notice an asset has an issue, reporting this issue is possible against the asset itself simply by scanning the tag and pressing “report issue”.


How Can You Use Fixed Asset Tracking?

Fixed asset tracking is used to log assets, reduce losses, and keep an up to date fixed asset register for tax, insurance, and expense purposes. Therefore, the core of your fixed asset tracking operations will be just this, logging your assets to ensure that they exist, are accounted for and are tracked.

Fixed asset tags then expand on this, as it opens up the possibility for more granular asset edits and information tracking. As you’ll be able to interact with assets while they’re physically in front of you, you can ensure you have more accountability.

Any edits you make on an asset’s profile using your asset tracking app are also reflected across the board, meaning that if you add an issue while you’re onsite, this is also visible on your web-based fixed asset register, ready for monitoring and exporting.

This gives you the most accountability possible and reduces the risks of ghost and zombie assets in one fell swoop.


RFID Fixed Asset Management

You can also opt for using RFID fixed asset tags. These tags give you more control and automation over your asset tracking. 

We recommend pairing passive RFID tags with handheld readers to start. This way, you can unlock a variety of time-saving features. The way these tags work is by receiving radio frequency signals from your handheld reader to indicate their presence.

In essence, therefore, they’re similar to QR codes and barcodes only don’t need a line of sight to be scanned, can be scanned in bulk, and can be scanned from a distance.

Therefore, if you’re tracking high-value assets, you can conceal tags. You can also run faster audits as it’s a simple case of pulling the trigger on your handheld reader and verifying the tags’ locations.

RFID tags are also very helpful when it comes to small tools tracking as you’ll don’t need to physically find the tags on assets to scan them and account for them.


itemit’s Asset Tracking Software

itemit’s asset tracking software gives you a wide range of features to play around with. From equipment checkout functionality to asset maintenance features, you’ll be able to monitor your asset usage with ease.

itemit is a cloud-based asset tracking system, which means any changes you make onsite are also reflected on your entire asset register in real-time.

The software is unique as it allows you to combine barcodes, GPS trackers, QR codes and RFID tags under one banner, giving you the full range of functionality possible.

To find out more about how itemit’s fixed asset tracking software can help your business save time and money, you can contact the team at team@itemit.com. You can also fill in the form below to start your 14-day free trial.

Fixed Asset Tags

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Fixed Asset Tracking: The Ultimate Guide

Fixed Asset Tracking: The Ultimate Guide

Fixed Asset Tracking: The Ultimate Guide

Fixed asset tracking operations help your business save time and money. All business need to keep a close eye on their fixed assets. Without a certain level of clarity, you run risks of losing accountability and losing money where it could otherwise be saved.

Most businesses are using spreadsheets for their fixed asset tracking operations. However, the use of spreadsheets creates gaps as they require a lot of manual input. For example, if you’re onsite and notice one of your assets has undergone a change, you’ll most likely need to log this on your spreadsheet later on, as opposed to when you’re physically with the asset.

Fixed asset tracking software allows you to use cloud-based technology to log and monitor any changes assets undergo when you’re onsite, saving you time and money in the process.

fixed RFID asset tracking planning


What Are Fixed Assets?

Your fixed assets are assets that you don’t sell or use as stock. As such, they’re permanent fixtures in your business. They can either directly or indirectly create revenue in this case, just not through the process of selling the assets.

So, for example, your fixed assets can be furniture, they can be IT assets, such as laptops or phones, and they can even be buildings. 

Most fixed assets can be logged as a business expense, too, meaning that you’ll be able to offset your tax repayments by logging these accurately.


What Is Fixed Asset Tracking?

Fixed asset tracking is the process of logging your fixed assets onto a register. Each asset has a unique profile on fixed asset tracking software, where you’ll also be able to add serial information and tag the asset.

Crucially, you must log all of the fixed assets you need to report on onto your fixed asset register. There are a range of helpful features that you can use after this, but the fundamental idea is to have a record of what you own and what you’re using for a greater level of transparency over your asset list.

So, when you’re using fixed asset tracking software, you must have the fundamental information logged, then you’ll be able to use more helpful features tailored towards your requirements.

Once your assets have been logged, you’ll also be able to run exportable reports on them for tax and insurance purposes.


Using Fixed Asset Tags

To improve your fixed asset management, you’ll be able to use fixed asset tags. Fixed asset tags speed up asset discovery, as once your tools and equipment have been tagged, you simply have to scan the tag to find the corresponding asset in your software.

Every time you scan an asset’s tag, too, the last seen location will update as well as the user who scanned the tag and when the scan occurred. This gives you a full view of each asset interaction, allowing you to pinpoint where and when any changes were logged, such as asset damage.

Asset tags also allow you to speed up a few common fixed asset management operations. For example, if you wish to run an audit to verify that all of your assets are in the correct location, you can use these tags to speed this along.

Overall, fixed asset tags lend you more accountability over your fixed asset tracking operations, but they also save you a lot of time and, therefore, money.


Helpful Fixed Asset Management Features

Once you’ve logged and tagged your assets, you’ll be able to use a range of helpful features to track the daily, weekly, or monthly changes your fixed assets will go through.

So, you can also implement maintenance and issues management operations into your tools and equipment tracking by using helpful reminders and issue reporting features.

Then, if you frequently book and check out your assets to your colleagues or other businesses, you will also be able to use your fixed asset tracking system as equipment checkout software.

Every field you add and edit on your asset profiles you can also filter by in your reports. This means that if you need to run reports that specifically show your maintenance data, you can do so.


Depreciation and Asset Lifecycle Features

Other than the maintenance side of things, you can also use depreciation features in your fixed asset management software. Depreciation is where you track the value of a fixed asset over the course of its lifecycle.

So, if you need to track linear depreciation to see either how a specific asset is depreciating in cost or for your entire asset list, you will be able to do so with ease.

Also, as the data you’re adding to your fixed assets is highly customisable, you can also track how assets are behaving throughout their lifecycle.

For example, if an asset has had a regular history of maintenance, you’ll be able to view this and make a clearer decision on when to dispose of this asset.


Using Fixed Asset Tracking For Tax And Insurance

All of this data is usable for tax and insurance purposes, too. When you export a report, you can choose to export it as an excel file or a pdf and choose which data is added to the report.

On the excel file, if you need to add any of your own calculations, you can use your own formulae to fit with your business’ operations. 

The pdf report is a clear view of all of your asset list with pictures, too. This is very helpful when it comes to insurance and tax audits, as your reports show your auditors that you own the assets and that they’re being used responsibly.

Also, a clear, regularly updated, and accurate fixed asset register greatly reduces the risk of ghost and zombie assets. These can make your fixed asset register inaccurate and risk fines or overpayment.


Businesses That Can Use Fixed Asset Tracking

All businesses will have fixed assets, and so all businesses can benefit from effective and clear fixed asset tracking software.

However, there are a few specific requirements in each industry, as each industry will have overlapping or non-overlapping asset types that they need to track.

So, offices can use fixed asset tracking software to track their IT assets. Theatres can use asset tracking to track props. It’s possible to implement construction equipment asset tracking, healthcare asset tracking, and you can even create a school fixed asset register.

No matter the assets you’re tracking, you’ll be able to use fixed asset tracking software to save time and money. This is as you’ll be able to add unique, specific asset information against your asset profiles.

The more customisable your asset profiles are, the further you can take your fixed asset tracking.


itemit’s Fixed Asset Tracking Software

itemit’s fixed asset tracking software is being used by businesses worldwide. itemit has customers spanning Africa, New Zealand, Europe, the US, and Asia.

The itemit system is a powerful and customisable software that allows you to log, track and manage any and all of your assets. It uses an integrated app and web portal, meaning if you make any edits with the app on site, these will update on your web view automatically, speeding up your operations and reducing the chance for gaps.

We pride ourselves on our support and will ensure that you’re saving as much money as possible by using the system. To find out more, you can contact the team at team@itemit.com. You can also fill in the form below to start your 14-day free trial.

Fixed Asset Tracking Software

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

You're in great company

or, download the itemit app to get started

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Using Fixed Asset Management Software To Track Your Assets

Using Fixed Asset Management Software To Track Your Assets

Using Fixed Asset Management Software To Track Your Assets

Fixed asset management software allows you to keep a better level of control, transparency, and accountability over your assets. With effective features, you’ll be able to track your fixed asset register.

As effective fixed asset tracking software allows you to track assets uniquely, you will be able to add specific, granular data against your assets. This speeds up insurance, financial, and maintenance operations, saving you time and money.

fixed RFID asset tracking engineering


Fixed Asset Tagging

First of all, you’ll be able to use fixed asset tagging to keep a closer eye on your assets. Using fixed asset tags, you’ll be able to link unique assets to their corresponding unique profiles.

Then, to speed up asset discovery, all you need to do is scan the tag on an asset with your asset tracking app to view and edit its data. Every time you scan an asset’s tag, too, the last seen location and the user who scanned the tag also updates, giving you a clear audit trail.

When you’re using asset tags, you’ll also unlock a variety of other helpful features. For example, if a bulk of assets are moving from one location to another, you’ll be able to log the change quickly using Quick Add.

Then, if you wish to verify that all of your assets are in the location they should be, you’ll be able to use a handy asset audit feature to monitor this.


Fixed Asset Management Software Features

Your asset tracking app will come with a web portal, where you’ll be able to run, customise, and edit effective reports. Any change an asset goes through is automatically updated on these reports, too, giving you an automated and complete fixed asset register.

As well as this, you’ll be able to track asset lifecycles with a few more features. Firstly, you’ll be able to use maintenance features, such as reminders and issues management, to minimise asset downtime and view how assets are performing.

Then, you’ll be able to add purchase information and track the depreciation of your assets. These reports, too, will be customisable, allowing you to see the monthly depreciation of all your assets or the depreciation of just a few.


itemit’s Fixed Asset Tracking Software

itemit allows you to track any assets. This means that you’ll be able to use the system for IT asset management in conjunction with fixed asset management.

Overall, this gives you the ability to mix and match your operations, whether you’re tracking construction assets, tools and equipment, theatre props, PPE, anything!

itemit’s system gives you the best view of your fixed asset register and updates it automatically through the cloud. This means that if you make any changes onsite, they are automatically updated in your fixed asset register for those that need to see the changes.

To find out more about how itemit’s fixed asset management software can help your business save time and money, you’ll be able to contact the team at team@itemit.com. You can also fill in the form below to start your very own 14-day free trial.

Fixed Asset Management Software

Choose a better way to track your assets

Start your free 14-day trial now

Instant access. No credit card details required.

You're in great company

or, download the itemit app to get started

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